JACKSON, Wyo. — Today at 3 p.m. the Jackson Town Council and the Teton County Board of County Commissioners will meet for a joint information meeting to consider directing staff to release the 2022 Jackson/Teton County Housing Department Rules and Regulation updates and changes. Following the release, county staff must open a 45-day public comment period and town staff will begin preparing an ordinance.
The rules and regulations were last updated in 2018. This past February, the Council and Board identified aspects of the rules to be analyzed by staff.
On June 13 and July 6, the Council and Board considered the list of topics and directed staff to make changes to the Rules and Regulations.
The changes are as follows:
- Add a new rule requiring that developments with both restricted and market units have limitations on the Homeowner Association Assessments and fees that can be imposed upon the restricted housing units.
- Change to the definition of full-time employment so that households must average 30 hours of local employment per week per adult.
- One adult in the household = minimum 30 hours per week
- Two adults in the household = minimum 60 hours per week
- Change to allow cosigners and/or guarantors solely in cases where the buyer is unable to afford to purchase the unit on their own. The cosigner will be considered supplemental income, which will be counted as non-local income. The amount of supplemental income must be enough to lower the buyer’s total Debt to Income Ratio to 45%.
- Deductions to household income from rental properties will now be prohibited.
- Change to count child support and local retirement pension as income earned from a local business.
- Change to the allowed time for interruption of employment from two years to five years and an additional requirement that the household must work for one full year, full-time for a local business prior to applying in the weighted drawing.
- Change to the calculation method for maximum rents owners of restricted units may charge when renting their home while on an approved leave of absence from 30% of the low-end of their applicable income range to their actual housing costs (mortgage, taxes, insurance, HOA).
- Owners of restricted rental units can choose to send their tenants to the Housing Department for qualification rather than collecting documentation themselves.
- Definitions: Change the definition of household for Workforce Housing Rental units to allow more than one household to occupy a unit.
- Definitions: Change the definition of local business as follows: Remove the Town of Jackson Business License as a method of providing verification of physical location
in Teton County. Add part C to the definition allowing private residences to qualify as a local business.
The staff report is available here.